Going out to eat to me has always been a special treat, no cooking, no cleaning, but of course at a price. However, with the rising costs of food and groceries, restaurants have made themselves competitive by keeping their costs relatively the same if not lower!
According to a consumer report released late last year by Bank of America Merrill Lynch, consumers have been spending more (almost 4.5%) on dining out. I don’t mean the 5 stars, but family restaurants are promoting more deals and with the added convenience of no prep time and left-overs for lunch the next day, sometimes it works out for the better. Shopping and cooking takes time so it’s definitely more convenient for a family to eat out. The time saved on meal prep is then able to be spent on a second income or a part-time job which is the case with a lot of families these days.
Part of what makes this recession so challenging is that as salaries have been coming down the cost of living has been going up. Supermarket food prices have increased approximately 6% a year, about 2.5 times as fast as the cost of restaurant meals, according to the same report. Effectively making dining out more cost-effective. Restaurants have been struggling in this difficult economy as well so they are passing down the savings from their ability to buy at whole sale to diners like you and me!
Keep in mind though that restaurants have been providing themselves additional savings by cutting back on staff and decreasing hourly wages. Restaurant staff tend to be hard workers with a mindset that their money comes from tips, so restaurants have been able to get away with lowering hourly pay without too much fuss. Most restaurants also do not offer benefits so don’t forget to tip your servers people!
Related articles
- Mrs. Money: Eco-Friendly Dining Out (savings.com)
- http://money.msn.com/family-money/is-eating-out-cheaper-than-cooking-fiscaltimes.aspx
- Find Restaurant Coupons, Deals and Other Ways to Save Money While Eating Out (savings.com)
- It’s Suddenly Cheaper To Eat Out (businessinsider.com)
- eMenu, The New Tablet On US Tables (restrow.wordpress.com)
- You’ve Worked Hard All Week, Time To Wine And dineLA (xplorela.wordpress.com)









